The second-hand machinery market remains 'buoyant' as more farmers take the difficult step of auctioning their belongings due to retirement or a change in farm policy.
It is never an easy decision for a farmer to part with their machinery.
But for those who have made that choice, an auction provides an 'excellent opportunity' to seek the maximum price for their machinery.
According to Fisher German, the on-site machinery auction remains an effective way of disposing of farm machinery and equipment quickly and efficiently.
Farmers are turning to auctions whether the reasons be retirement or simply a business re-organisation to address upcoming changes in UK agriculture.
Jack Healy of Fisher German said a machinery auction is a 'quicker and simpler' method of sale rather than selling individually.
“Farm machinery auctions provide an opportunity to sell several items of unwanted and surplus equipment in one fell swoop,” he said.
Three auctions held by Fisher German at farms in Nottinghamshire, Derbyshire and Staffordshire in the last few months have reaffirmed the strength of the second-hand market.
Due to the uncertainty surrounding Brexit, overseas buyers, especially from Ireland and mainland Europe, are willing to pay good prices for machinery from the UK to take advantage of the weaker pound,
They are also keen to see exactly where the machinery they are buying had come from.
“High prices for brand new machinery have meant that second-hand machinery auctions are more popular than ever for buyers, who are keen to find a rare bargain at auction rather than relying on machinery dealers,” Mr Healy said.
“We strongly expect that farm machinery auctions will continue to realise strong sale prices in the short to medium term, and for farmers willing to make that choice, we will be with them every step of the way.”